Canara Bank Home Loan Scheme

Canara Bank Home Loan Schemes

Canara Bank has a range of home loans to meet your requirements. These are: Canara Housing Loan, Canara Site Loan, Canara Home Loan Plus, and Home Improvement Loan.

  • Interest rate: 6.65% to 8.90% p.a.
  • Processing fee: 0.50% of the amount (min. Rs.1,500 and max. Rs.10,000)
  • For purchase/construction of house, purchase of plot, and renovation/expansion
  • Available for individuals with stable employment/business and income for at least 3 years
  • Also available for persons aged 60 or more who fulfil certain conditions

Canara Bank Home Loan EMI Calculator

Loan Amount10 Year EMI20 Year EMI30 Year EMI
Rs.10 lakhRs.11,431Rs.7,544Rs.6,420
Rs.20 lakhRs.22,863Rs.15,089Rs.12,839
Rs.30 lakhRs.34,294Rs.22,633Rs.19,259
Rs.40 lakhRs.45,725Rs.30,177Rs.25,679
Rs.50 lakhRs.57,156Rs.37,722Rs.32,098

Canara bank home loan EMI per Rs lakh is Rs. 659, which is the lowest EMI offered by the bank. The housing loan EMI amount is calculated based on loan amount, loan tenure and lowest interest rate as 6.65%.

Check the monthly repayment amount of your home loan before applying by using the Home Loan EMI Calculator.

Canara Bank Home Loan Eligibility Criteria

Eligibility criteriaRequirements
Minimum age of the applicant21 years
Maximum age of the applicant70 years
Residency statusResidents of India/Non-residents of India (Depending on the scheme chosen)
Type of employmentSalaried/Self-employed/Businessmen/Professionals

Documents Required for Canara Bank Home Loan

Generally, when you apply for housing finance, you will be required to submit the below documents:

  • Identity proof (Any one)
    • Valid passport
    • PAN Card
    • Driving licence
    • Voter’s ID
    • Aadhaar Card
  • Address proof (Any one)
    • Aadhaar Card
    • PAN Card
    • Copy of utility bills
    • Voter’s ID
    • Driving licence
    • Valid passport
  • Income proof (Any one)
    • Salaried individuals
      • Salary/Employment Certificate
      • Recent salary slips
      • Latest Form No.16
    • Self-employed individuals
      • ITAO/IT Returns of the last 3 assessment years
      • Letter about nature of business, type of organisation, year of establishment, etc.
      • Last 3 years’ Balance Sheet and P&L Account
  • ther documents
    • 2 passport-sizes photos of the applicant/guarantor
    • Filled application form
    • Sale Deed
    • Agreement for Sale
    • Approved plan for the proposed construction/extension/addition (Duplicate copy)
    • Detailed cost estimate/valuation report designed by Bank’s Architect/Panel Chartered Engineer
    • Allotment letter of Co-operative Housing Society/Apartment Owners’ Association/Housing Board/NOC from the Society/Association/Builders/Housing Board
    • Legal Scrutiny Report
    • NIL Encumbrance Certificate (EC) for the past 13 years
    • Property Tax paid receipt
    • Khata Certificate, Khata Extract
    • Permission for mortgage, wherever necessary
    • Cost estimates and Proforma Invoices
    • Lease Deed copy, if applicable
    • Valuation Report of the property from Panel Valuer of the bank

Apply Canara Bank Home Loan Online

  • To apply online, you must first visit the bank’s official website, canarabank.com.
  • On the homepage of the website, the Loan Products option appears in the Personal Banking option, click on it.
  • On the next page, all home loan types come before you.
  • Select the home loan you want to apply for.
  • All information regarding that loan will come before you.
  • Click Apply Now to apply.
  • The loan form opens in front of you.
  • Enter the requested information on the form and submit the form.
  • After submitting the form, the bank representative will contact you and further the loan process.

How to apply Offline

  • You should first go to your nearest Canara Bank branch.
  • You should contact the bank employee by going to the bank branch.
  • The bank employee will provide you with all the information about the home loan.
  • Then your records will be checked.
  • You will be given a form.
  • You must correctly enter all the information requested on the form, attach your records and submit the form to the bank.
  • The loan amount will be transferred to your bank account if your loan is approved.

Language : Kannada

Which Department : Education

Central OR State Information: State

Location : Karnataka

Published Date : 2020

Information Term : Short

Purpose of Information : Employee

Information Format : JPJ

Information Size : 672kb

Number of Pages : 02

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Password Protected : No

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